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A Wall Street Journal Report (“Corporate Tuition Aid Appears to Keep Workers Loyal”) in May said that an organization could almost double its retention statistics through corporate tuition aid. The example given tracked employees hired in the same year. Some used tuition assistance to get training, others did not. Of those who did not use the tuition program, 66% left the employer in five years. Of those who did use the program, only 33% left within five years.
That’s a big difference based on loyalty of employees. Low retention is costly in time and money, and workers appear more likely than ever to be looking to move. A training manager opined last week at HR.com that the reason more organizations do not provide more tuition aid is because they believe workers will get trained and then get out, making it a waste of money. This training manager believes that training leaders in general are not making the financial case for more tuition aid.
Now that you know differently, support tuition aid in your project and champion it in your company!
Posted on: July 18, 2007 02:02 PM |
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